Ardmore Shipping (NYSE:ASC) Stock Rating Lowered by StockNews.com

Ardmore Shipping (NYSE:ASC) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other research firms also recently issued reports on ASC. Jefferies Financial Group restated a “buy” rating and issued a $20.00 price target on shares of Ardmore Shipping in a research note on Thursday, February 15th. Stifel Nicolaus boosted their target price on shares of Ardmore Shipping from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 19th.

Ardmore Shipping Stock Performance

Shares of ASC traded up $0.12 during trading hours on Monday, hitting $17.01. The company had a trading volume of 392,740 shares, compared to its average volume of 629,166. The business has a fifty day moving average of $16.22 and a 200-day moving average of $15.08. The company has a quick ratio of 3.38, a current ratio of 3.75 and a debt-to-equity ratio of 0.15. The firm has a market cap of $691.07 million, a price-to-earnings ratio of 6.23 and a beta of 0.38. Ardmore Shipping has a 12 month low of $11.59 and a 12 month high of $17.05.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The firm had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $64.26 million. During the same period in the prior year, the firm earned $1.33 EPS. The business’s revenue was down 25.6% on a year-over-year basis. Equities analysts anticipate that Ardmore Shipping will post 2.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardmore Shipping

A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. bought a new stake in shares of Ardmore Shipping during the 1st quarter valued at $54,000. Quadrant Capital Group LLC increased its position in shares of Ardmore Shipping by 87.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock worth $62,000 after purchasing an additional 2,042 shares during the period. MJP Associates Inc. ADV acquired a new position in Ardmore Shipping in the fourth quarter valued at about $141,000. Advisor OS LLC bought a new stake in Ardmore Shipping during the fourth quarter worth about $141,000. Finally, Raymond James & Associates bought a new stake in Ardmore Shipping during the fourth quarter worth about $141,000. Institutional investors own 62.22% of the company’s stock.

About Ardmore Shipping

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.